Tropical Storm Barry has already had a big effect on the oil industry in the Gulf Coast area. Movable rigs have been relocated and at least 15 production platforms and four drilling rigs were evacuated on July 10, 2019, in preparation for this major storm. While the storm may not have totally lived up to initial predictions, it could still cause serious delays for companies in the oil and gas industry. For these companies, working with an MWD rental company could be a solid step toward getting back on track after the worst of the storm is over.
Shutdowns in the Path of the Storm
About a third of the oil production facilities in the Gulf of Mexico have been shut down to protect workers and equipment in the path of Tropical Storm Barry. This has produced increases in oil prices because of concerns about the damage the storm could cause and the break-in production already taking place in the Gulf Coast. By shutting down their production during the storm as a protective measure, these facilities have already generated a 4.5 percent increase in the price of oil per barrel. Gasoline futures have also risen higher by about 4 percent, which may have an impact on the price paid at the pump by consumers in the near future.
Another Challenge for the Oil Industry
The U.S. oil and gas industries have been taking on a number of challenges in recent years, including the effective and efficient extraction of oil from shale deposits. MWD kits and processes are of critical importance to this process and allow drill operators to access information on the geological formations, direction, and speed of drilling and other factors that can have a significant impact on the profitability and productivity of drilling efforts. By implementing measurement-while-drilling equipment and processes, companies can make the most of available time and resources when drilling for oil in our area.
The Benefits of Working With MWD Supply
At MWD Supply, we offer MWD rental kits and kits for purchase to help your company achieve the greatest productivity in the oil and gas industry. We have the experience and the expertise needed to provide you with expert MWD training that can boost your productivity and promote the highest profitability for your drilling operations. Our team will work with you to provide the right solutions for your company and your ongoing MWD needs. To learn more about our MWD rental services and sales options, call MWD Supply today at 281-664-0196. We look forward to the opportunity to serve you.
A recent move by Saudi Arabia to cut oil production has already triggered higher prices for crude oil in the U.S. In an effort to boost prices, Saudi Arabia has promised to reduce its output of oil even more than required by OPEC. Saudi Arabia oil industry representatives have announced to whatever it takes to keep oil prices at profitable levels. For companies in the U.S., investing in MWD technical support and tools provides assistance in achieving higher productivity and increased profits for operations.
Managing Oil Supply and Demand
The latest move by Saudi Arabia is intended to counter the growth of the oil industry in the U.S. and Canada. This has increased the amount of oil available to a significant degree. Recent power failures have happened in Venezuela. This has also negatively impacted oil company’s production and refining of oil in that part of the world. Saudi Arabia’s announcement about their curtailing of production is unlikely to generate similar actions of Texas oil companies.
The Benefits of Modern Technologies
Investing in MWD rental kits can help increase productivity on your drilling sites. MWD technologies make it easier to identify geologic barriers and adjust the angle of approach for drilling. This can prevent damage to your drilling equipment and unwanted downtime that could reduce your overall production of oil.
How MWD Training Can Help
By training your crew members to use MWD tools effectively, you will promote fast and accurate identification of oil reserves and pockets. Your MWD system will deliver comprehensive information on the conditions of your drill and maximum production strategies. Incorporating MWD technical support and tools into your daily workflows boosts your ability to react quickly to changing conditions.
At MWD Supply, we offer MWD kits that can increase the accuracy, productivity, and profitability of your operations. We can also provide expert MWD training for your team members. If you are interested in the latest technologies in the oil industry, give our team a call today at 281-664-0196. Get a quote or discuss your needs with our MWD technical support experts. We look forward to the chance to serve you.
Egypt may soon be the new hot spot for energy investment thanks to some significant changes to the oil and gas contract process in this Middle Eastern nation. By offering added incentives for foreign investors, Egypt hopes to increase its gas output and profitability. The discovery of the Zohr gas field has created considerable buzz regarding the opportunities available in Egypt. For those looking to explore undeveloped resources in this part of the world, MWD training and equipment are essential tools to ensure the greatest return on investment.
Incentives for New Exploration Efforts
The oil minister of Egypt, Tarek El-Molla, announced the new contract and incentives to present the country as open for business to foreign investors. Currently, the domestic gas production in Egypt is estimated at 6.6 billion cubic feet each day. Egypt hopes to establish itself as a gas exporting center by boosting production and modernizing terms for exploration and drilling.
Fundamental Changes to Egypt’s Energy Policies
Before these changes, investors were entitled only to one-third of the project’s profits. The Egypt government was legally entitled to purchase all of the production of the company at a preset price. These limitations made it difficult for Egypt to attract new investors. Widespread fuel shortages have also caused difficulties for Egyptian oil and gas production. Oil production was largely mitigated by the 2015 discovery of the Zohr oil field.
Advanced Technologies Increase Production
MWD kits are a vital element in the modern oil exploration industry. By implementing these technologies, companies in Egypt and here in the U.S. can ensure effective drilling operations. MWD technologies are designed to allow adjustments to geological conditions and physical parameters to boost oil and gas production and ensure profitability.
At MWD Supply, we offer comprehensive MWD technical support and supplies to help your company achieve better productivity and profitability in the energy industry. We work with companies to provide MWD training, support, and other options for our customers. Call us today at 281-664-0196 to request a catalog or to get a quote for MWD training, kits or other MWD services. We look forward to the opportunity to serve you.
Advances in drilling technologies have made it possible to extract oil and gas from locations once thought played out or depleted. Hydraulic fracturing, more commonly referred to as fracking, has allowed energy companies to access oil reserves inside shale deposits to expand their opportunities in the state of Texas and other areas of the United States. Measurement-while-drilling (MWD) techniques have also had a positive impact on the profitability of these companies. The right MWD technical support is critical to the success of drilling and fracking in the modern oil industry. Here are some expert opinions on the global future and the importance of hydraulic fracking.
Fracking Has Boosted U.S. Oil Production
Since fracking became part of the equation for the oil industry in the late 1990s, oil production in the U.S. has skyrocketed. It is estimated that approximately half of the crude oil and two-thirds of the gas produced in the U.S. each year now comes from fracking activities. This dramatic increase in the amount of oil and gas available in the U.S. has ensured lower prices for consumers, an ongoing reduction in carbon emissions from U.S power plants and has bolstered the economy to a considerable degree.
Concerns Continue About the Safety of Fracking
While the U.S. Environmental Protection Agency (EPA) has made statements dating back to the Obama administration indicating that fracking is a safe method of extracting gas and oil from shale deposits, many environmental experts and consumer groups are not so sure. They cite dangers to ground water reserves and increased seismic activity as evidence that fracking could be causing serious harm to the environment. The economic benefits of increased oil production, however, are likely to continue to outweigh these concerns for the foreseeable future.
Geopolitical Issues Will Continue to Play a Significant Role
Because fracking has been so successful in increasing the oil production possible in the U.S., it has also provided an added advantage for America in the global marketplace. Most countries in the European Union have either banned fracking or simply do not engage in it for economic or environmental reasons. England is one of the few countries in which active fracking is currently taking place in sites like the Weald Basin and the Bowland shale formation. This lack of competition gives the U.S. a significant edge in the area of oil and gas production over much of the rest of the world.
Advanced MWD training can benefit exploration companies that are engaged in fracking to extract oil. Working with a company that offers MWD kits for sale or rent and training in the proper use of these tools can help oil companies work more safely and profitably. At MWD Supply, we can deliver the right solutions for companies in the oil and gas industry. Call us today at 281-664-0196 to discuss your requirements with our technical team. We look forward to the opportunity to serve you.
Advances in the way oil is extracted have made once-abandoned oilfields productive and profitable. This has led to increased opportunities for energy companies in a wider range of areas. Investing in MWD technical support can be a solid step toward achieving greater productivity in the current oil and gas exploration industry. Here are the states that hold the most oil reserves for exploration.
The Lone Star State continues its reign at the top of the oil-producing states in the U.S. with oil reserves of 10.5 billion barrels. Technologies have made it possible and profitable to extract oil from shale deposits, which has allowed Texas to more than double its oil reserves in the past two decades. Texas also has 26 refineries currently in operation and produces 1.2 billion barrels of crude oil every year. The Permian Basin is the largest oil-producing region in the state and in the entire United States.
The Bakken Formation in North Dakota is estimated to contain more than 5.7 billion barrels of oil and produces 396 million barrels of crude oil each year. With only one operating refinery, North Dakota must transport the bulk of this oil to refineries across the country. This can add considerably to the cost of producing oil from these locations. To ensure the greatest productivity, companies are investing in MWD training for crew members to streamline the extraction process to the highest possible degree.
Alaska and California
Tied for proved oil reserves at 2.9 million barrels apiece, Alaska and California are closely matched in terms of overall output and number of refineries:
- California produces 204 million barrels of crude oil each year and has 17 operating refineries within its borders.
- Alaska produces 181 million barrels of crude oil and has five operating refineries.
Experts note that both states are experiencing falling proven oil reserves and may continue to see falling production over the next decade or so.
Most industry experts attribute the rise in production from New Mexico to advanced extraction techniques that offer real help in accessing new sources of oil. With oil reserves of 1.2 billion barrels and annual crude oil production of 123 million barrels, these methods have proven profitable for energy companies in the New Mexico area.
At MWD Supply, we offer MWD kits for purchase, rental or lease-to-own transactions. We can provide the latest technologies and the most advanced tools to help your company achieve its goals in the competitive energy marketplace. Call us today at 281-664-0196 to schedule training or to receive a quote from us. The experts at MWD supply have the knowledge and advanced solutions you need to succeed in the oil and gas extraction industry.